Japan’s Coincheck closes $110M deal for 3iQ, $2.5B AUM crypto ETF issuer
Coincheck Group has acquired 97% of 3iQ for 27.1 million of its ordinary shares at a $111.8 million valuation. An additional exchange of 810,435 of its shares would earn the company total ownership.
Coincheck Group, one of Japan’s largest cryptocurrency exchanges, has announced its acquisition of 3iQ Corp., a pioneering Canadian digital asset manager. The deal is structured as a stock exchange with Coincheck’s majority shareholder, Monex Group, and values 3iQ at approximately $111.8 million.
Coincheck Group acquires 3iQ
Monex Group agreed to exchange its 97% stake in 3iQ for 27.1 million newly issued Coincheck ordinary shares, which are valued at $4 each. Coincheck could offer similar terms and 810,435 additional shares to…
